It was inevitable. Financial services providers are starting to move forward to research new products and services that reflect consumers’ changing needs. In recent months, we’ve learned how financial services providers are adapting—and how research can help.
It’s important to state that not everything has changed. For instance, confidence in different types of financial institutions—a measure we have tracked for over a decade—has remained stable, highlighting that providers have supported customers well so far.
However, we have seen some key changes in consumer intentions in our global COVID-19 barometer and our quarterly UK Financial Sentiment Indicator. Both track consumer attitudes and behaviour in the sector and indicate consumers are looking to:
How are financial services providers adapting?
Providers are moving from monitoring consumer sentiment and understanding the potential impact on their business to adopting a more forward-looking research approach to help them remain relevant now and into the future. For instance:
What does the future hold and how can research help?
It appears that the pandemic is not going anywhere soon. New behaviours and needs are therefore highly likely to remain or evolve further. Providers must seize the moment to help them differentiate and stay ahead in terms of meeting customer needs:
We provide flexible ways of working with you, from fully managed support to self-service access and everything in between. We enable both agile qual and quant insights, using our leading-edge tech platforms and all with expert support from the Financial Services research team.
To hear more detail and discuss how your latest challenges can be supported by research, get in touch to arrange a call.
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